In Part 1 of the interview that Alex and I conducted with Cody Hofhine, we learned some of the strategies that he was using in his investing business in Salt Lake City. We learned that Cody’s mantra is that this is a “people business.” “It’s crucial to focus on the people first,” Cody says, “and the property (and potential purchase) second.” He also shared how he places a lot of emphasis on having a great mentor. Make sure you check out that episode – #147.
In this Part 2 of our session with Cody, we dig even deeper in to his systems and strategies. Alex and I peppered him with questions about such business structures as delegating, hiring a staff, doing follow up, and on and on…
You’re going to be amazed at how streamlined Cody’s business is and how well it functions. Did you know that a good system can go awry if it’s too complex and gets bogged down? Systems can be great business builders – but only if they’re done right.
It’s tidbits like this that make this a powerful, information-packed episode.
Listen and enjoy:
- The necessity of having a workable CRM
- Using automated emails as part of the follow-up system
- How to select which tasks are yours; which tasks are contracted out
- How to manage a team; how to keep each team member accountable
- Creating scorecards for each team member
- How to build the team – who to bring on board first
- How to set up an incentivized pay structure
- Keeping systems simple and easy to navigate
Mentioned in this episode:
- Cody’s Facebook page – Utah Sell Now
- Joe’s Free Fast Cash Survival Kit: Real Estate Investing Mastery
- Tom Krol’s website: Wholesaling Inc.
- FreedomSoft Lead Generation Program
What are you thinking?
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